MTN finalises separation of mobile money into standalone fintech in Ghana
CHIGOZIE AMADI
Africa’s largest telecom operator, MTN Group Ltd., has completed the structural separation of its mobile money business in Ghana, creating a standalone fintech entity as part of regulatory compliance and a broader push to expand digital financial services.
The Johannesburg Stock Exchange-listed company said Thursday that Scancom PLC, its Ghanaian unit, had finalised the transaction following approval from local regulators. The announcement was made through the Stock Exchange News Service.
The move aligns with Ghana’s Payment Systems and Services Act, 2019, which mandates that telecom operators providing financial services must operate them through separate legal entities. MTN’s separation is seen as a strategic step to accelerate growth in the country’s mobile financial sector.
“The transaction involved the statutory merger of MobileMoney LTD, a wholly owned subsidiary of MTN Ghana that previously operated the mobile money business, and MobileMoney Fintech LTD, a newly incorporated company established to run the mobile money business, in accordance with the Companies Act, 2019 in Ghana (the merger),” the document stated.
According to the filing, the merger became effective on March 31, 2026, after all conditions precedent were satisfied or waived where applicable and after the company obtained the required regulatory approvals.
Following completion of the transaction, the mobile money business is now fully operated by MobileMoney Fintech Ltd, while MTN Ghana continues to run its telecommunications services independently. The company added that the restructuring did not involve the issuance of new shares and that MTN Ghana’s stated capital and shareholding structure remained unchanged.
MMFL, the new fintech entity, is owned by MTN Dutch Holdings B.V., a subsidiary of MTN Group, alongside the MTN Ghana Fintech Trust. The trust was created for the benefit of beneficiaries representing non-MTN Group shareholders of MTN Ghana from time to time, ensuring minority investors retain economic participation linked to the mobile money business.
MTN described the separation as an important milestone that not only fulfils local regulatory requirements in Ghana but also aligns with the group’s strategic priority of scaling its fintech platform and accelerating long-term value creation.
The announcement underscores MTN’s growing emphasis on financial technology as a core growth driver across its markets, where mobile money services have expanded beyond transfers to include payments, savings, lending and merchant solutions.
The notice, dated April 2, 2026, was issued from Fairland with Tamela Holdings Proprietary Limited acting as lead sponsor and J.P. Morgan Equities Proprietary Limited serving as joint sponsor. It was disseminated through the JSE’s SENS platform, which distributes market-sensitive information to investors, alongside a standard disclaimer stating that the exchange does not guarantee the accuracy or completeness of information published through the service.
MTN said the completed separation positions the Ghana mobile money business to scale faster within a dedicated fintech structure while allowing MTN Ghana to continue focusing on its core telecommunications operations.
